RIYADH: Saudi stocks closed the week higher than they started, as oil prices fell and investors watched attempts to mediate a peace settlement over Russia’s attack on Ukraine.
As of Thursday’s closing bell, the main index, TASI closed 0.40 percent higher at 13,090, while the parallel market, Nomu, gained 0.27 percent to reach 25,010.
Oil prices fell as markets remained chaotic, with Brent crude down $4.01 to $109.44 a barrel, and WTI crude fell $6.40 to $107.05 a barrel as of 3:29 p.m. Saudi time.
United Cooperative Assurance Co. rose 8.89 percent, leading the gains, despite a recent report that it widened losses by 313 percent.
Middle East Healthcare Co. fell 5.39 percent, continuing to lead the fallers since the opening session, after reporting a 79 percent decline in net profit in 2021.
In the banking sector, Bank Aljazira edged up 0.57 percent, while the Kingdom’s largest valued bank, Al Rajhi, edged up 0.50 percent.
Arabian Pipes Co. edged down 0.18 percent, after reporting a 69 percent decline in profit during 2021.
Aramco, the largest player on the Saudi oil market, closed today’s trading session 3.36 percent higher.